According to a new market report published by Lucintel, the future of the global metal tank market looks promising with opportunities in oil and gas, industrial, and municipal applications. The global metal tank market is expected to decline in 2020 due to global economic recession led by COVID-19. However, market will witness recovery in the year 2021 and it is expected to reach an estimated $12.5 billion by 2025 with a CAGR of 2% to 4% from 2020 to 2025 . The major drivers for this market are growing construction activities, increasing refineries, and growing industrialization.
Browse 109 market data tables and 145 figures spread through 234 pages and in-depth TOC on “Global Metal Tank Market"
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In this market, different types of metal tank such as aboveground and underground are used as installation type. On the basis of comprehensive research, Lucintel forecasts that aboveground metal tanks will remain the largest segment and witness the highest growth over the forecast period due to easier access for repairs and maintenance.
Within the metal tank market, oil and gas will remain the largest end use industry and witness the highest growth over the forecast period due to new establishment of refineries and increasing exploration and distribution activities.
Asia Pacific will continue to be the largest market and witness the highest growth over the forecast period due to increasing oil and gas demand and retail fuel stations in developing nations such as China and India.
Emerging trends, which have a direct impact on the dynamics of the metal tank industry, include increasing use of sidewall insulation in metal tanks to maintain temperature and growing adoption of dual seam systems to emphasize strength and corrosion resistance. Worthington, Trinity Industries, McDermott, CIMC, Toyo Kanetsu, CST Industries, Palmer of Texas and others are among the major metal tank manufacturers.
Lucintel, a leading global strategic consulting and market research firm, has analyzed the global metal tank market by installation type, end use industry, application, size, pressure type, build type, and region and has come up with a comprehensive research report entitled “Growth Opportunities in the Global Metal Tank Market 2019-2025: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global metal tank market by installation type, end use industry, application, size, pressure type, build type, and region as follows:
By Installation Type [Value ($Billion) from 2014 – 2025]:
By End Use Industry [Value ($Billion) from 2014 – 2025]:
Oil and gas
Industrial
Municipal and Others
By Application [Value ($Billion) from 2014 – 2025]:
Fuel
Water and Wastewater
Fire Protection
Industrial
Food and Beverage
Paper and Pulp
Others
By Size [Value ($Billion) from 2014 – 2025]:
Below 5,000 Gallons
5,000 to 25,000 Gallons
Over 25,000 Gallons
By Pressure Type [Value ($Billion) from 2014 – 2025]:
By Build Type [Value ($Billion) from 2014 – 2025]:
Custom Fabricated at the Factory
Custom Fabricated and Field Erected
By Region [$M shipment analysis for 2014 – 2025]:
North America
Europe
Asia Pacific
The Rest of the World
This 234-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/metal-tank-market.aspx or helpdesk@lucintel.com.
About Lucintel
Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.